According to Stratistics MRC, the Global UAV Drones market is estimated at $7.16 billion in 2016 and is expected to reach $26.74 billion by 2023 growing at a CAGR of 20.7% from 2016 to 2023. Rising demand for actionable intelligence, governments utilize UAV drones for various task, increasing demand in military applications to fight against terrorism are some of the key factors boosting the market growth.
However, lack of professional pilots and high cost of operation for some applications are limiting the market. Emergence of new technologies, components and applications will provide opportunity for the market growth.
Based on component, sensor is an object that identifies physical information and factors such as light, heat, motion, moisture, pressure, or some other element, and reacts by creating a yield on a display or transmits the data in electronic form for additionally processing. By product type, Military drones are a flying cameras and flying weapons that can be controlled by remote. It can be used for lifting cameras over the ground so every individual who needs it can use a camera to transcend the earth to look down from above can do military observation.
North America has the largest market share during the forecast period due to the release of the part 107 rule by the federal aviation administration (FAA) of the U.S. UAVs have been broadly utilized by the U.S in strikes against terrorist equips in Syria, Libya, and Iraq.
Some of the key players in UAV Drones market include Thales SA, Aerovironment, Inc., 3D Robotics, Precisionhawk, Israel Aerospace Industries Ltd., Leonardo SPA, Dronedeploy, Lockheed Martin Corp., Northrop Grumman Corp., Elbit Systems Ltd., BAE Systems PLC, Flir Systems, Inc., Parrot SA, DJI and The Boeing Company.
Payloads Covered: • Military Drones • Commercial Drones (Up to 25 Kg)
Product Types Covered: • Military Drones • Commercial Drones
Applications Covered: • Military Drones • Commercial Drones • Other Applications
Components Covered: • Sensor • Camera System • Propulsion System • Battery • Navigation System • Other Components
Regions Covered: • North America o US o Canada o Mexico • Europe o Germany o U.K o Italy o France o Spain o Rest of Europe • Asia Pacific o Japan o China o India o Australia o New Zealand o South Korea o Rest of Asia Pacific • South America o Argentina o Brazil o Chile o Rest of South America • Middle East & Africa o Saudi Arabia o UAE o Qatar o South Africa o Rest of Middle East & Africa
What our report offers: - Market share assessments for the regional and country level segments - Market share analysis of the top industry players - Strategic recommendations for the new entrants - Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets - Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations) - Strategic recommendations in key business segments based on the market estimations - Competitive landscaping mapping the key common trends - Company profiling with detailed strategies, financials, and recent developments - Supply chain trends mapping the latest technological advancements
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